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The method of stock valuation which overstates profit during inflation is

Book Keeping
WAEC 2024

The method of stock valuation which overstates profit during inflation is

  • A. FIFO
  • B. LIHO
  • C. simple average
  • D. weighted average
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Correct Answer: Option A
Explanation

A  FIFO overstates profit during inflation period.

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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts